Brazil's monetary system was unraveling badly by 1992. The cruzeiro had replaced the cruzado novo in 1990 as part of the Collor Plan — an economic shock program that famously froze private bank accounts overnight — but inflation continued accelerating toward the hyperinflationary collapse that would eventually demand yet another currency replacement. The cruzeiro real followed in 1993, itself lasting barely a year before the real finally stabilized things in 1994.
This 100-cruzeiro piece was effectively obsolete almost as soon as it circulated.
Brazil's monetary system was unraveling badly by 1992. The cruzeiro had replaced the cruzado novo in 1990 as part of the Collor Plan — an economic shock program that famously froze private bank accounts overnight — but inflation continued accelerating toward the hyperinflationary collapse that would eventually demand yet another currency replacement. The cruzeiro real followed in 1993, itself lasting barely a year before the real finally stabilized things in 1994.
This 100-cruzeiro piece was effectively obsolete almost as soon as it circulated.